Mauritian firm seals P150m Letlole la Rona equity deal

Done deal: Shenjere-Mutiswa says Grit will be LLR's partner of choice in Botswana and into Africa
Done deal: Shenjere-Mutiswa says Grit will be LLR's partner of choice in Botswana and into Africa

Mauritian real estate group, Grit Real Estate has snapped up 23.7% of the Botswana Development Corporation’s (BDC) shares in Letlole la Rona (LLR), in a deal worth US$13.8 million (P150.3 million).

The deal means Grit now holds 30% equity in Letlole, up from 6.25 percent, while the BDC is down to 42% from 65.8%.

The purchase consideration for the deal is not cash, but rather the issuance of new Grit shares to the BDC at US$1.40 per share. The deal could give the BDC what is possibly its first offshore equity, a strategic direction the Corporation has been pushing for sometime.

Editor's Comment
Urgent call: Stop the killing!

The previous week, we had an article about a police officer shooting his wife, and turning the gun on himself, whilst he died, his wife survived and is still in the hospital.Sadly that was not the only article we carried on intimate partner killings. There was the Francistown case, where a young woman allegedly stabbed her ‘former boyfriend’ and many others which were reported throughout the week.As all the reports were coming in, a Botswana...

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